FormFactor (NASDAQ:FORM) Hits New 1-Year High – Here’s Why

FormFactor, Inc. (NASDAQ:FORM)’s stock price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $62.80 and last traded at $62.5250, with a volume of 151420 shares changing hands. The stock had previously closed at $59.19.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Wall Street Zen raised shares of FormFactor from a “sell” rating to a “hold” rating in a research note on Saturday, September 20th. B. Riley raised their price target on shares of FormFactor from $66.00 to $78.00 and gave the company a “buy” rating in a research report on Friday, December 12th. DA Davidson set a $55.00 price objective on shares of FormFactor in a report on Thursday, October 30th. Weiss Ratings reiterated a “hold (c)” rating on shares of FormFactor in a research report on Wednesday, October 8th. Finally, Cantor Fitzgerald started coverage on FormFactor in a research report on Tuesday, November 18th. They set an “overweight” rating and a $75.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, FormFactor currently has an average rating of “Hold” and an average target price of $57.00.

FormFactor Stock Up 5.4%

The firm has a 50-day moving average of $54.31 and a two-hundred day moving average of $41.20. The company has a quick ratio of 3.46, a current ratio of 4.30 and a debt-to-equity ratio of 0.01. The company has a market capitalization of $4.83 billion, a PE ratio of 119.94 and a beta of 1.12.

Insider Buying and Selling at FormFactor

In other FormFactor news, Director Dennis Thomas St sold 2,000 shares of the stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $49.85, for a total transaction of $99,700.00. Following the completion of the transaction, the director owned 38,957 shares of the company’s stock, valued at $1,942,006.45. This trade represents a 4.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mike Slessor sold 8,403 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $50.06, for a total transaction of $420,654.18. Following the completion of the sale, the chief executive officer directly owned 533,270 shares in the company, valued at $26,695,496.20. This trade represents a 1.55% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 20,772 shares of company stock valued at $1,103,698 over the last 90 days. 0.96% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of FORM. Reinhart Partners LLC. grew its position in shares of FormFactor by 64.8% in the 2nd quarter. Reinhart Partners LLC. now owns 1,904,698 shares of the semiconductor company’s stock valued at $65,541,000 after buying an additional 749,088 shares during the last quarter. State of New Jersey Common Pension Fund D lifted its stake in FormFactor by 9.5% in the second quarter. State of New Jersey Common Pension Fund D now owns 61,190 shares of the semiconductor company’s stock valued at $2,106,000 after buying an additional 5,295 shares during the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of FormFactor in the second quarter valued at approximately $583,000. Harbor Capital Advisors Inc. grew its position in shares of FormFactor by 54.7% during the second quarter. Harbor Capital Advisors Inc. now owns 162,464 shares of the semiconductor company’s stock worth $5,590,000 after acquiring an additional 57,470 shares during the last quarter. Finally, Bessemer Group Inc. increased its holdings in shares of FormFactor by 25.0% in the 2nd quarter. Bessemer Group Inc. now owns 431,321 shares of the semiconductor company’s stock valued at $14,841,000 after acquiring an additional 86,277 shares during the period. 98.76% of the stock is currently owned by hedge funds and other institutional investors.

About FormFactor

FormFactor, Inc (NASDAQ:FORM) is a leading provider of advanced test and measurement solutions for the semiconductor industry. The company specializes in the design, development and manufacture of high-performance wafer-level and package-level test interfaces used in wafer sort, characterization, reliability and failure analysis applications. By leveraging precision microelectromechanical systems (MEMS) and photolithographic processes, FormFactor delivers probe cards, analytical probes and test sockets that enable device makers to validate next-generation integrated circuits across logic, memory, RF, analog and power applications.

FormFactor’s product portfolio includes custom probe cards for wafer probers, TEM-based analytical probes for material and device characterization, and socket solutions for burn-in and final test of packaged devices.